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On January 1 , Masterson Supply purchased a small storage building for $ 2 1 , 9 0 0 to be used over a 5
On January Masterson Supply purchased a small storage building for $ to be used over a year period. The building is depreciated on a straightline basis and has no residual value. Early in the fourth year, the storage building burned down.Determine the financial statement effects of the removal of the storage building from the accounting records.
Creage a balance sheet and income statement
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